​For the First Time,your Company Is Implementing the Tool Called

question 234

Multiple Choice

​For the first time,your company is implementing the tool called benchmarking to set performance standards.In a memo you received introducing the new effort,you noticed an error.Which of the following statements was (were) wrong?

• A)​Benchmark analyses establish a baseline for comparison.
• B)​Benchmark analyses can be internal or external.
• C)​This approach provides an objective basis for making improvements.
• D)​Implementing changes for quality improvement is part of the benchmarking process.
• E)​The ultimate goal of benchmarking is to achieve competitive advantage.

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Definitions:

Forecast Chart

A graphical representation that predicts future values based on historical data trends and patterns.

Random Variates

Randomly generated values that follow a specified distribution.

Assumption Cells

Cells in a spreadsheet model where key input values are entered, which are based on assumptions that affect the model's outcomes.

Random Numbers

Numbers generated in a sequence that lacks any predictable patterns, used in various simulations and cryptographic applications.